PHOENIXVILLE — Lieberman Earley & Co. of Wayne recently sold 200-206 Bridge St., a prominent retail and residential building in the heart of the borough, for $612,400 to Brandon Whitaker, owner of BAW Group, a real estate investment firm from Devon.
Whitaker's firm specializes in the development, building and management of multi-family, “value-add” properties. His company also owns a few other prominent properties in Phoenixville, including The Merchants Lofts at 101 Main St., which once was the historic Farmers & Mechanics Bank Building, and 31 Main St., an historic commerce and bank building across the street in the town center.
On Tuesday, Whitaker said he has no immediate plans for 200-206 Bridge St. other than to improve some structural issues and continue its current use for retailing and apartments.
“Right now it's all about figuring the building out,” Whitaker said.
The mixed-used property has four retail spaces on the first floor and six apartments on the second floor. It is located at the corner of Main and Bridge streets, a central location in a business district that has made significant progress in recent years, and Whitaker said that was a big factor in his decision to acquire the site.
“I think it's a great spot; that's why we bought it,” Whitaker said. “If you want to be in Phoenixville, that's the place to be.”
Phil Earley, a principal of Lieberman Earley & Co., and senior associate broker JoAnn West represented the seller, Neal Thorpe.
“The mixed-used property offered the right investor a stable income with long-term tenants in a location that is in the heart of the revitalization of downtown Phoenixville,” Earley wrote in a news release announcing the sale.